Easy Microfinance loan borrowers’ lives made even easier with Ongo e-Money services
More than 130,000 active Easy Microfinance clients soon able to repay their loans easily and securely using Ongo e-Money digital services
YANGON, Myanmar – 16 September 2019 – Ongo, the market-leading business-to-business (B2B) digital payment service in Myanmar announced today their newest partnership with Easy Microfinance. Priding themselves on being one of the best-capitalized microfinance institutions (MFIs) in the country, with a paid in capital of USD 14.2 million, Easy Microfinance currently operates in six states through 16 branches serving 130,000 active clients in Myanmar. With the support of Ongo, Easy Microfinance loan borrowers will receive the benefits of Ongo’s simple-to-use and convenient loan repayment services.
Licensed by the Financial Regulatory Department of the Ministry of Planning and Finance of the Union of Myanmar, Easy Microfinance has disbursed more than 315,000 loans for a total amount of more than 124 billion Myanmar Kyats since opening its doors in 2016, significantly contributing to the development of small and micro-businesses in Myanmar.
Through their strategic partnerships, Ongo currently provides digital loan repayment services to 12 leading microfinance organizations that serve over 25% of all Myanmar microfinance borrowers. These Ongo services enable borrowers to easily and efficiently repay their loans.
“It is a great pleasure to partner with Easy Microfinance in their efforts to offer simple, more convenient repayment options to their loyal borrowers,” said Allen Gilstrap, Ongo CEO. “Easy’s focus on transparency, hassle-free services and operations will be digitally empowered with Ongo services, which will provide safety, simplicity, and convenience to all Easy borrowers,” says Gilstrap.
This collaboration is an important step in the promotion of financial inclusion in Myanmar as it will greatly enlarge the access to Easy Microfinance’s services. “The partnership with Ongo will provide our clients with the option to perform their loan repayments at Ongo agents or through the Ongo app, thereby saving time and money traveling to Easy Microfinance’s branches while at the same time enabling us to serve clients in the branches more quickly as a large part of the transactions are expected to be performed through Ongo,” explains Frank Snieders, Managing Director of Easy Microfinance.
Once the digital service with Ongo commences, Easy Microfinance
clients can easily repay their loans at any Ongo agent location or simply with
the Ongo smartphone app themselves. As all Ongo mobile wallet accounts are
monitored and regulated by the Central Bank of Myanmar under the Mobile Banking
License (MBL) directive through Myanmar Oriental Bank (MOB), customers can get
the security of a bank regulated account without ever having to visit a bank
For more information on the Ongo/Easy Microfinance digitized payment system partnership or Ongo’s other innovative digital payment services, please visit the company’s official website at ongo.com.mm or Facebook account at facebook.com/ongoemoney, e-mail email@example.com or call 09-450888996-7, 09-444450816-8.
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Ongo is the brand name for Ronoc Myanmar Limited and is the leading B2B digital payment service provider in Myanmar. Ongo operates in 73 Myanmar cities with over 1,800 Ongo agent employees providing digital payment services to over 140 corporate clients, 26,000 merchants, and 700,000 consumer users.
With its licensing partner Myanmar Oriental Bank (MOB), Ongo App Users can use their smartphone to Cash-in (convert their cash into E-money) and Cash-out at hundreds of Cash Agent locations across Myanmar. Ongo services include; mobile airtime top-up, P2P money transfer, B2B payments, bill payments, digital payroll services, and online shopping payments. In addition, Ongo Users receive rewards in their Ongo App from leading Myanmar retailers and online merchants. Our goal is to promote financial inclusion in a safe, simple and convenient fashion.
For more information, please contact:
Zar Pann Phyu
+ 959 770 551 384
About Easy Microfinance
Easy Microfinance is a best practice Microfinance institution, licensed by the Financial Regulatory Department of the Ministry of Planning and Finance of the Union of Myanmar. With a paid in Capital of USD 14.2 million, Easy Microfinance is one of the best capitalized MFI’s in the country. The institution currently operates in 6 states through 16 branches serving 130,000 active clients. Since opening its doors in October 2016 Easy Microfinance has disbursed more than 315,000 loans for a total amount of more than 124 billion Myanmar Kyats, thus significantly contributing to the development of small and micro businesses in Myanmar.
For more information, please contact:
Easy Microfinance Head Office 099 69 70 17 66